Paradeep phosphates completes merger, sets record date for share allotment

Paradeep Phosphates Limited (PPL) announced on October 16, 2025, the completion of its composite scheme of arrangement with Mangalore Chemicals & Fertilizers Limited (MCFL). This date has been designated as ‘Effective Date 2’, signifying the amalgamation of MCFL, the transferor company, with PPL, the transferee company. MCFL has now been dissolved without winding up.

The merger officially takes effect from ‘Appointed Date 2’, which was April 1, 2024. PPL's board has fixed Friday, October 31, 2025, as the ‘Record Date’ to determine the MCFL shareholders entitled to receive PPL's equity shares.

Under the scheme, eligible shareholders of MCFL will receive 187 fully paid-up equity shares of INR 10 each of Paradeep Phosphates Limited for every 100 fully paid-up equity shares of INR 10 each they hold in MCFL.